The Kestner Team

Tennessee named 2009 State of the Year by Business

January 11th, 2010 2:58 PM

January 6, 2010

Tennessee named 2009 State of the Year by Business

Facilities magazine

By Wendy Lee

THE TENNESSEAN

Tennessee was named the 2009 State of the Year by Business Facilities magazine, a national economic development publication.

The Hemlock Semiconductor project in Clarksville was also named the magazine's 2009 Silver Award winner for the Economic Development Deal of the Year, with Hemlock announcing its $1.2 billion investment and creation of 500-900 jobs.

"With our strong and productive workforce, low taxes and nationally recognized business climate, Tennessee continues to distinguish itself as one of the most business-friendly states in the nation," said Gov. Phil Bredesen.

In 2009, Tennessee had 16,700 new jobs and $3.1 billion in new capital investments, according to the Tennessee Department of Economic and Community Development. Still, the amount of jobs created have not overcome the amount of jobs lost, with the state's unemployment rate improving slightly to 10.3 percent in November, according to state data.

Business Facilities' Editor in Chief Jack Rogers said Bredesen and his team impressed the magazine with their strategy put in place for a solid foundation in Tennessee for future growth for years to come. The magazine also recognized the state's committment to the creation of clean energy jobs. "In a difficult economic year, Tennessee has set a proactive example of successful development that should serve as a model for all states charting their path to recovery," Rogers said. Tennessee has recently won other awards recognizing its growth. It was ranked among the top five U.S. states for best business climates by Site Selection magazine. Southern Business & Development magazine named Tennessee co-state of the year and Bredesen, Commissioner Matt Kisber of the Tennessee Department of Economic and Community Development and Revenue Commissioner Reagan Farr were named to the publication's to the Ten People Who Made A Difference list. In addition, Area Development magazine gave Tennessee its Gold Shovel Award, given to the state achieving the most success in terms of job creation and economic impact.

You can click here to see more Tennessee National Rankings!!

Posted by Nina Kestner and Kevin Lennon The Kestner Team on January 11th, 2010 2:58 PMPost a Comment (0)

10 Most Desirable Features in New Homes

January 26th, 2010 1:47 PM

10 Most Desirable Features in New Homes

A new RISMedia article by Steve Kerch ("Top 10 Must-Have Features in Today's New Homes") summarizes consumer reports recently released at the NAHB International Builders Show in Las Vegas. One survey, by AVID Ratings Co., solicited home buyer preferences, revealing "10 'must' features in new homes":

Large kitchens, with an island
Granite countertops
Energy-efficient appliances, high-efficiency insulation and high window efficiency
Home office/study
Main-floor master suite
Outdoor living room
Master suite soaker tubs
Stone and brick exteriors
Community landscaping, with walking paths and playgrounds
Two-car garages

It's an interesting article, worth reading in its entirety, HERE.

Posted by Nina Kestner and Kevin Lennon The Kestner Team on January 26th, 2010 1:47 PMPost a Comment (0)

Can a Comparative Market Analysis Help You?

January 25th, 2010 1:35 PM

Can a Comparative Market Analysis Help You?

To get the most accurate estimate of how much you should list your property for, your real estate agent can provide you with a Comparative Market Analysis (CMA). A CMA is an informal estimate of market value, based on sales of comparable properties in your area. It generally takes into account various aspects of your home, including size, features and annual costs. Reviewing comparable homes that have sold within the past year, along with the listing or asking price on current homes for sale, should help you determine a fair sale price for your property.

CMAs can include homes that are currently for sale and those which have recently sold. They can cover areas as narrow as one or two streets surrounding your home, or as broad as an entire subdivision.

Most real estate agents will give you a CMA for free, hoping you'll list your home with them. Each CMA contains valuable information on several recent sales, including:

How long each property stayed on the market
How close the sale price was to the asking price
Notes comparing each home to yours, i.e.; number of bedrooms and baths, approximate square footage, sizes of major rooms, amenities such as fireplaces and pools, age of the home, property taxes and more.

The CMA is an informative selling tool, but like any tool, it doesn't work by itself. For this reason, the CMA will always need to be interpreted by a professional or with complete objectivity by the seller or buyer.

Remember, too, that the CMA is also a buying tool; it is considered just as seriously by the buyer and his or her agent. As you and your agent are going to use the CMA to ask the highest possible price for your home, the buyer is going to use it to find reasons to either choose or eliminate your home, and to arrive at the lowest price possible.

Posted by Nina Kestner and Kevin Lennon The Kestner Team on January 25th, 2010 1:35 PMPost a Comment (0)

Buying a New Computer? Help is Here!

January 15th, 2010 12:23 PM

Buying a New Computer?
Help is Here!

Computer technology is in a constant state of evolution. If you are in the market for a new PC, you may quickly become confused and frustrated with the number of options from which to choose. Making an educated choice will require that you become familiar with some basic concepts and answer some basic consumer questions.

How complex are my tasks?

Surfing the Internet requires less computing power than running a multimedia program. If you know the types of programs you will be using, check out their requirements.

Do I require portability?

A "notebook" computer may be preferable to a "desktop" computer. Today's notebooks are generally just as fast and powerful as a desktop but have physical size limitations.

How much can I afford?

If your computing needs outstrip your resources, note that many large manufacturers offer late model factory refurbished machines or closed product lines with variable warranties. Factor in the cost of any extended warranty you may desire. The operational requirements will influence power and options you need. A quality electrical surge protector is a must.

Following are brief descriptions of the most commonly referred to computer components:

CPU The power portion of your computer. It handles the computer's complex computations. CPU speed is measured in "hertz" (megahertz/millions or gigahertz/billions).

Random Access Memory (RAM or temporary memory) Temporary data storage for use by the CPU. Generally speaking more RAM means faster computing. RAM is measured in units called bytes. (Megabytes/millions or Gigabytes/billions).

Hard Drive (hard disk, data storage, memory) The hard drive serves as a permanent storage area for data and programs. Like RAM, hard drive storage capacity is measured in bytes.

Monitor (screen, desktop) As with a television, your monitor screen size and picture quality enhances viewing pleasure and reduces eyestrain. Typically higher resolution screens have smaller "dot pitch" values.

Disk Drives Disk drives offer the ability to upload and download data, record and play music and play movies. CD ROM drives will read text and play music but not record. A CD RW drive will play music and allow you to record music or text onto recordable discs. DVD ROM and DVD RW share a similar relationship.

USB Ports (Universal Service Bus ports) USB offers high-speed data exchange and allows several devices to be plugged into a single hub.

Modem The modem allows you to connect your computer to the Internet. "Dial up" modems utilizing standard telephone lines are the most prevalent with a "56K" (56,000 bits per second) the minimum desirable. Digital Subscriber Line (DSL) modems utilize high-speed digital connections via standard phone lines. DSL access is much faster than a standard 56k connection but more expensive. Cable modems allow very high-speed Internet access over the same types of lines cable television utilizes.

Other Stuff Of course there is an expanding number of devices to make your computer more useful: printers, cameras, speakers, scanners, joysticks, networking options and dedicated backup devices. With a little thought and some well chosen reading material, you can make purchasing a computer for your home a rewarding and educational experience. It's not a decision you will make very often, so choose wisely.

Posted by Nina Kestner and Kevin Lennon The Kestner Team on January 15th, 2010 12:23 PMPost a Comment (0)

More Good News For The Housing Market!!

January 8th, 2010 11:55 PM

HOME SALES INCREASE FOR THIRD CONSECUTIVE MONTH

Fourth quarter shows significant increase; Year-end status improves dramatically from mid-year conditions

There were 1,612 home closings during the month of December, according to figures provided by the Greater Nashville Association of REALTORS®. This is a 13.3 percent increase from the 1,422 closings reported for the same period in 2008.

Fourth quarter closings are 5,730 for Greater Nashville. That total is up 29.8 percent from the 4,413 closings reported during the fourth quarter of 2008.

Final numbers for 2009 show there were 21,183 homes sold in the region, according to figures provided by the Greater Nashville Association of REALTORS®. Compared to the prior year, the final figures are down 12.6 percent. There were 24,246 closings in 2008.

“The significant increase in closings during December and the very positive trend for all of the fourth quarter are both encouraging signs for real estate in this region,” said Lucy Smith, 2010 president of the Greater Nashville Association of Realtors. “There is no question that first-time homebuyer tax credit had a major impact. As a result of the tax credit being extended and expanded, we anticipate positive trends possibly including more move-up activity in the months ahead.”

“Home prices have stabilized, which is a positive sign, and condominium prices are actually up more than 11 percent – certainly encouraging in light of the overall real estate trends of the recent past,” said Smith. “It bears noting that at mid-year of 2009 we were virtually 30 percent behind the previous year. While no one is claiming that all the economic issues have been resolved, we have made some meaningful progress and this is certainly the kind of news we welcome as we begin a new year.”

A comparison of sales by category for December is:

	December 2008	December 2009
CLOSINGS	1,422	1,612
Residential	1,152	1,339
Condominium	192	195
Multi-Family	27	17
Farms/Lands/Lots	51	61

A comparison of sales by category for the fourth quarter is:

	4th Quarter 2008	4th Quarter 2009
CLOSINGS	4,413	5,730
Residential	3,639	4,736
Condominium	549	746
Multi-Family	69	49
Farms/Lands/Lots	156	199

A comparison of sales by category for year-to-date is:

	Y-T-D 2008	Y-T-D 2009
CLOSINGS	24,246	21,183
Residential	19,742	17,680
Condominium	3,242	2,601
Multi-Family	300	193
Farms/Lands/Lots	962	709

There were 1,339 sales pending at the end of December, compared with 1,250 pending sales at this time last year. The average number of days on the market for a single-family home was 90 days.

The median residential price for a single-family home during December was $164,000, and for a condominium it was $149,900. This compares with last year’s median residential and condominium prices of $163,750 and $134,062, respectively.

Inventory at the end of December was 20,774, down from 21,274 in December 2008. The current inventory of properties by category, compared to last year, is:

	December 2008	December 2009
INVENTORY	21,274	20,774
Residential	12,889	12,434
Condominium	2,220	2,072
Multi-Family	351	400
Farms/Land/Lots	5,814	5,868

“Inventory is down a small percentage from where it was at this time last year,” Smith added. “Residential and condominium inventory is actually where there is a decrease, while multi-family and farm/land/lots is still up. It will likely remain that way, especially for farm/land/lots, until more homebuilding activity begins to increase. Even with residential and condominium inventory decreasing, there is still a very good selection available throughout the Greater Nashville area. Those choosing to take advantage of the tax credit can still find very meaningful options.”

The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Posted by Nina Kestner and Kevin Lennon The Kestner Team on January 8th, 2010 11:55 PMPost a Comment (0)